CapitaLand Ascott Trust (CLAS) delivered an 11% year-on-year (YoY) increase in income available for distribution to S$107.1 million for the six months ended 30 June 2026 (1H 2026), due to higher non-periodic items1. Total distribution was S$97.5 million, after retaining S$9.6 million in non-periodic items, as CLAS continues to execute its portfolio reconstitution and growth strategy.
CLAS’ 1H 2026 Distribution per Stapled Security (DPS) remained stable YoY at 2.53 Singapore cents. The trailing 12-month DPS corresponds to a distribution yield of 6.9%2. The record date for the 1H 2026 DPS is on 5 August 2026, and CLAS’ Stapled Securityholders can expect to receive their distribution on 28 August 2026.
CLAS’ core distribution income3 was mainly impacted by transitional factors, including timing differences in acquisitions and divestments, the near-term impact of asset enhancement initiatives (AEIs) undertaken to enhance the quality and long-term resilience of the portfolio, foreign exchange impact and one-off tax adjustments. Core distribution income for 1H 2026 included a distribution top-up to mitigate the closures of The Cavendish London and Madison Hamburg4. On a same-store basis5, operating performance remained resilient, with revenue per available unit (REVPAU) increasing 1% YoY, despite macroeconomic uncertainties.
Ms Serena Teo, Chief Executive Officer of CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte. Ltd., said: “In the first half of 2026, CLAS continued to enhance portfolio quality and income resilience through disciplined portfolio reconstitution. We deepened our exposure to the living sector with three rental housing acquisitions in Japan in February, and announced the divestment of The Robertson House by The Crest Collection at an attractive exit yield of 2.3%, unlocking value for CLAS.
We remain focused on recycling capital into higher-quality assets and value-enhancing AEIs to strengthen CLAS’ income profile. The upcoming opening of Somerset Clarke Quay Singapore in early 2027, together with contributions from renovated properties, is expected to support future income growth.
While these initiatives may have some near-term income impact, we remain committed to delivering stable distributions to Stapled Securityholders, supported by sustained operating performance and the distribution of non-periodic and/or divestment gains where appropriate,” added Ms Teo.
